Altcoin Season 'Game Is Over': Matt Hougan

Bitwise investment chief Matt Hougan believes the traditional altcoin season, where nearly all cryptocurrencies rise in tandem, is likely over. He predicts a “non-traditional” altcoin season that will reward assets demonstrating “real-world traction and real-world application,” rather than speculative assets like NFT profile pictures. Hougan suggests the market will “rerate” specific tokens linked to substantial businesses, leading to a more “differentiated” altcoin season than in the past. While past cycles saw capital rotate from Bitcoin to Ether and then altcoins, Hougan indicates Bitcoin is “starting to bottom and trend higher,” currently trading around $70,237. The debate regarding altcoin seasons continues within the crypto industry, with some analysts anticipating a near-term rally and others noting a current focus on Bitcoin.

(Source：Cointelegraph)